Opportunity Information: Apply for CDFI 2013 FATA
Apply for CDFI 2013 FATA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Fiscal Year 2013 CDFI Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.020 Community Development Financial Institutions Program.
- This funding opportunity was created on Dec 21, 2012 and posted on Dec 21, 2012.
- Applicants must submit their applications by Feb 28, 2013. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $152,000.00 to eligible and selected applicants.
- Each selected applicant is eligible to receive up to $2,000,000.00 in funding.
- The number of recipients for this funding is limited to 100 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
- Applicants must be certified as a Community Development Financial Institution (or CDFI) by the CDFI Fund, or be certifiable as a CDFI by the CDFI Fund. Please see the Notice of Funds Availability on the CDFI Funds website for more detailed information.
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Opportunity Summary:
The Fiscal Year 2013 CDFI Program (Funding Opportunity Number: CDFI 2013 FATA) is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under CFDA 21.020. The program is designed to strengthen the ability of CDFIs to deliver community development impact by expanding access to credit, capital, and financial services in underserved markets. It supports both organizations that are already certified CDFIs and certain entities that are not yet certified but are able to become certified.
The opportunity offers two main types of support. First, Financial Assistance (FA) awards are intended for certified CDFIs that can present comprehensive business plans showing how they will achieve measurable community development results. These awards focus on financing activities and related financial services delivered within an institution's existing Target Market, or through expansion into new Investment Areas, Low Income Targeted Populations, or other Targeted Populations. Second, Technical Assistance (TA) grants are aimed at building organizational capacity, either for existing CDFIs that need to strengthen operations or for organizations seeking to become certified CDFIs. TA funds can help recipients improve internal systems, staffing, products, and strategies so they can better meet the capital access and community development needs of the markets they serve and/or complete the steps necessary to achieve CDFI certification.
Funding is provided as grants within the community development activity category, with an anticipated 100 awards. The estimated total funding amount listed for the competition is 152,000, and individual awards range from a minimum of 1 to a maximum (ceiling) of 2,000,000. The opportunity includes a cost sharing or matching requirement, meaning recipients are expected to contribute non-federal resources consistent with the rules described in the official Notice of Funds Availability (NOFA).
Applicants must be certified as a CDFI by the CDFI Fund at the time of application or must be eligible to become certified (certifiable) under the CDFI Fund's certification requirements. The posting date was December 21, 2012, and the application deadline was February 28, 2013, with the archive date of March 1, 2013. Full program rules, eligibility details, and application instructions are provided through the CDFI Fund's official program webpage and NOFA. For technical issues accessing the announcement, the listed point of contact is Jay Santiago at the IT Help Desk, (202) 653-0300.
Frequently Asked Questions (FAQs): Fiscal Year 2013 CDFI Program (CDFI 2013 FATA)
What is the Fiscal Year 2013 CDFI Program (CDFI 2013 FATA)?
The Fiscal Year 2013 CDFI Program (Funding Opportunity Number: CDFI 2013 FATA) is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under CFDA 21.020. The program is designed to strengthen the ability of CDFIs to deliver community development impact by expanding access to credit, capital, and financial services in underserved markets.
Who administers this grant opportunity?
This opportunity is administered by the U.S. Department of the Treasury's CDFI Fund.
What is the purpose of the CDFI Program?
The program aims to strengthen the ability of Community Development Financial Institutions (CDFIs) to deliver community development impact. It does this by supporting efforts that expand access to credit, capital, and financial services in underserved markets.
What types of funding are available under this opportunity?
The opportunity provides two primary types of support: Financial Assistance (FA) awards and Technical Assistance (TA) grants.
What are Financial Assistance (FA) awards intended to support?
FA awards are intended for certified CDFIs that can present comprehensive business plans showing how they will achieve measurable community development results. These awards focus on financing activities and related financial services delivered within an institution's existing Target Market, or through expansion into new Investment Areas, Low Income Targeted Populations, or other Targeted Populations.
Who is eligible for Financial Assistance (FA) awards?
Based on the opportunity description, FA awards are for organizations that are already certified as CDFIs and can provide a comprehensive business plan demonstrating measurable community development outcomes.
What are Technical Assistance (TA) grants intended to support?
TA grants are aimed at building organizational capacity. They can support existing CDFIs that need to strengthen operations, as well as organizations seeking to become certified CDFIs. TA funds can help recipients improve internal systems, staffing, products, and strategies so they can better meet capital access and community development needs and/or complete steps needed to achieve CDFI certification.
Who is eligible for Technical Assistance (TA) grants?
TA grants may support existing CDFIs that need capacity building and also organizations that are seeking to become certified CDFIs, as long as they are able to meet the CDFI Fund's certification requirements (i.e., are certifiable).
Does an applicant need to be a certified CDFI at the time of application?
Applicants must be certified as a CDFI by the CDFI Fund at the time of application or must be eligible to become certified (certifiable) under the CDFI Fund's certification requirements.
What is meant by "certifiable" in this opportunity?
Within the context provided, "certifiable" refers to an entity that is not yet certified as a CDFI but is eligible to become certified under the CDFI Fund's certification requirements.
What kind of activities does the program support?
The program supports community development-related financing activities and financial services in underserved markets, including activities within an institution's existing Target Market or expansion into new Investment Areas, Low Income Targeted Populations, or other Targeted Populations. It also supports capacity-building improvements through Technical Assistance.
How is the funding structured (grant vs. other types)?
Funding is provided as grants within the community development activity category.
How many awards were anticipated?
The opportunity anticipated making about 100 awards.
What is the estimated total funding amount for this competition?
The estimated total funding amount listed for the competition is 152,000.
What is the minimum and maximum award size?
Individual awards range from a minimum of 1 to a maximum (ceiling) of 2,000,000.
Is there a matching or cost-sharing requirement?
Yes. The opportunity includes a cost sharing or matching requirement. Recipients are expected to contribute non-federal resources consistent with the rules described in the official Notice of Funds Availability (NOFA).
Where can applicants find the official rules and application instructions?
Full program rules, eligibility details, and application instructions are provided through the CDFI Fund's official program webpage and the NOFA (Notice of Funds Availability).
What is the CFDA number for this program?
The CFDA number listed for this program is 21.020.
What is the Funding Opportunity Number (FON)?
The Funding Opportunity Number is CDFI 2013 FATA.
When was this opportunity posted?
The posting date was December 21, 2012.
What was the application deadline?
The application deadline was February 28, 2013.
When was this opportunity archived?
The archive date was March 1, 2013.
Who should be contacted for technical issues accessing the announcement?
For technical issues accessing the announcement, the listed point of contact is Jay Santiago at the IT Help Desk, (202) 653-0300.
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